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Find Reverse Mortgage Specialists in Alabaster, AL
Directory of reverse mortgage specialists in Alabaster, Alabama. Verify credentials with the state mortgage licensing authority before hiring.
5 agents listed
Updated May 2026
Alabaster, AL
Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Alabama before hiring.
Showing 5 reverse mortgage specialists in Alabaster, AL
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
World Finance
446 1st St SW, Alabaster, AL 35007
2056859490
Honor Mortgage LLC
101 Aviators Vw Dr, Alabaster, AL 35007
2052139299
Regional Finance
458 1st St SW, Alabaster, AL 35007
2054194309
Tower Loan
7895 Hwy 119 #10, Alabaster, AL 35007
2056057741
Regions Mortgage
55 S Colonial Dr, Alabaster, AL 35007
8003256000
A reverse mortgage specialist in Alabaster Alabama helps homeowners aged 62 and older convert part of their home equity into tax-free funds without selling their home. Alabama law requires borrowers to complete a counseling session with a HUD-approved counselor before applying. This service is especially useful for seniors in Shelby County looking to supplement retirement income or cover healthcare expenses.
What Does a Reverse Mortgage Specialist in Alabaster Cost?
Typical costs for a reverse mortgage specialist in Alabama include an origination fee of up to $6,000 a mortgage insurance premium of 2% of the home value and third-party fees for appraisal title and recording. Total closing costs often range from $2,500 to $8,000. These costs can be rolled into the loan so you pay no upfront cash. This is general information and not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What are the eligibility requirements for a reverse mortgage in Alabaster Alabama?
Borrowers must be at least 62 years old and own their home outright or have a low mortgage balance. The home must be your primary residence and meet FHA property standards. You must also complete a HUD-approved counseling session.
How much can I borrow with a reverse mortgage in Alabaster?
The amount depends on your age the value of your home and current interest rates. In Alabama the maximum claim amount for an FHA reverse mortgage is $1,089,300 as of 2024. Younger borrowers generally receive less than older borrowers.
Are reverse mortgage proceeds taxable in Alabama?
Reverse mortgage proceeds are considered loan advances not income so they are not taxable at the federal or state level in Alabama. However interest on the loan is not deductible until you pay it back. Always consult a tax professional for your specific situation.
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About Our Listings
Brokers listed on BeforeMortgageUSA.com are compiled from publicly available directories, state mortgage licensing authority records, and business listings. Inclusion does not constitute endorsement. We do not verify broker licensing, disciplinary status, or qualifications. Verify each broker's current standing with the Alabama.